The wheat complex was lower across the winter wheat contracts on Friday, with Spring wheat holding up. Chicago SRW futures were steady to 3 ½ cents lower on the day, with May up 17 cents this week. KC HRW futures were down 5 ¼ to 10 cents on the session, though May still held up 22 ¼ cents for the week. MPLS spring wheat was 1 ½ to 4 ½ cents higher on Friday, with the weekly gain at 22 ¾ cents. Forecasts from NOAA’s 7 day QPF shifted some precip to parts of western KS and parts of OK/TX.
Managed money in CBT wheat futures and options added 3,451 contracts back to their net short position in the week of 4/21, taking it to 10,717 contracts. In KC wheat, they added 11,085 contracts to their net long position at 28,009 as of Tuesday.
